IQ Apartments

The Apartments 19 Marcus Clarke Street Canberra

Key Responsibilities:

 Provide advice to the developer in relation to compliance of new legislative requirements  Preparation of compulsory documents necessary for compliance with the Developer Disclosure Obligations  Consult in relation to practical implications of building design and operation  Procure service agreements in relation to ongoing building operation  Preparation of budget forecasts for operational and capital expenses of the building  Consult with key stakeholders including finance partners, agents, purchasers and solicitors  Establishment of the Owners Corporation and preparation of inauguration documents  Assist with the settlement of purchased properties at instruction from solicitor & developer  Implementation of strategic and operation plan following completion and settlement  Assist new building owners with transition of responsibilities The Apartments at NewActon is a development of local and national significance. The mixed use residential & commercial building incorporates 190 strata titled units, predominantly apartments, with some ground floor retail and office use. The nature of the building itself was complex in design and service requirements. Unusually however, the project was delivered as a staged development as part of a single Units Plan. At the time, a staged development under one Units Plan was reasonably uncommon in the ACT. This caused an increased degree of complexity surrounding planning and certain sequencing sensitivities in relation to budgets for building operations and levying of units settling in each respective stage at different times. The staging of the development was further complicated due to each stage forming part of a single building structure. Ground floor level units up to level 4 (known as the „podium level‟) were completed and registered as part of the first wave, thereby creating the legal entity of Units Plan 3488, while all following units on subsequent floors remained part of the uncompleted development. This part of the building continued to be a construction site with certificate of occupancy being issued some months later, followed by legal title being issued enabling settlement.

Challenges & Learnings (overview)

A great deal of thought was dedicated to balancing the need for trades access to